"I find that it helps to break down the big picture into smaller achievable tasks and to recognise and celebrate these achievements along the way."
Superannuation, are you on track?
It may not seem important to you now, however your super is probably what you will use to live comfortably in retirement.
It is part of your financial future, just as paying off your mortgage, saving for a holiday or buying that new car.
Here are some simple steps to help you sort out your super which could add thousands to your retirement savings!
Check your super statement
Actually open the envelope you have received from your super company and read it! Get to know your balance,
investment options and what insurance you may have.
Find your lost Super
If you have had more than one employer over your working life, you may have super that you have lost track of.
You can track your lost super using the Australian Tax Office (ATO)’s Super Seeker. https://superseeker.super.ato.gov.au
Simplify your super
If at all possible, have one super account-you will save on fees! A note of caution here,
there may be a very good reason you have more than one account, for example for insurance purposes.
Check with your super company or adviser before rolling all of your super into one account.
Add extra to your super
You can do this by adding after tax contributions, this may come from savings,
sale of an asset or spouse contributions and may even help you take advantage of the government co-contribution if you earn less than $50,454 per year.
You can also salary sacrifice into your super by making contributions before tax. You need to have an arrangement with your employer for this to occur.
Salary sacrificing could save you tax, so it is worth considering.
Please be aware that there are limits to the amount you can contribute-talk to your adviser before putting this in place.
It is almost never too late to make the most of your super but the earlier you start, the better off you will be-talk to your adviser today!